COLOR SYSTEMS TECHNOLOGY CHANGES NAME TO CST ENTERTAINMENT IMAGING INC.
COLOR SYSTEMS TECHNOLOGY CHANGES NAME TO CST ENTERTAINMENT IMAGING INC. LOS ANGELES, March 11 /PRNewswire/ -- At the Color Systems Technology Inc. (AMEX: CLR) annual meeting today, the shareholders approved changing the company's name to CST Entertainment Imaging Inc. The company name was changed to better reflect the objectives and future operations of the company. Gerald Shefsky, chairman and chief executive officer, said, "The recently implemented all digital, multiformat system has already had a substantial impact on the company's operations. This all-digital system has many applications beyond color conversion. Motion picture and television studio production staffs have acclaimed the new system and have stated that the company has regained its industry superiority as to quality production, speed and efficiency. "In addition to its customary and growing color conversion activities, the backlog of which has extended to almost one year, the company also plans to actively seek business utilizing the all digital system's other applications. These vast new markets will include a wide range of special effects, graphics and the color conversion of old animated cartoons, as well as the inking and painting of new animated feature films and cartoons." The company also announced the hiring of Al Dinoble as vice president of marketing and sales. Dinoble's long experience in special effects and animation will substantially bolster the company's two new areas of market opportunity. The company announced the election of Richard Copaken to the board of directors. Copaken is a partner in the prestigious Washington firm of Covington and Burling. His practice includes a wide range of international and legislative matters, especially in the Far East. "With a markedly reduced overhead and the ability to significantly increase revenues due to increased production speed and greatly expanded market opportunities, the company is now assured of future profitability," Shefsky added. -0- 3/11/92 /CONTACT: Gerald Shefsky, chairman and CEO of Color Systems Technology, 310-417-3444; or Donald Reynolds of Donald Reynolds and Associates, 310-275-9024, for Color Systems Technology/ (CLR) CO: Color Systems Technology Inc.; CST Entertainment Imaging Inc. ST: California IN: ENT SU:
DM-KJ -- LA008 -- 7193 03/11/92 09:05 EST
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|Date:||Mar 11, 1992|
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